Local Chinese steel section market fails to see improvement in activity

The Chinese domestic steel section market has mostly followed a stable trend in the past week.
 
In the Shanghai market, the price of 50 mm x 50 mm x 5 m steel angles is now at $432/mt. The same product is sold at $382/mt in the Tangshan market and at $471/mt in the Guangzhou market. Meanwhile, prices of 160 mm x 65 mm x 8.5 mm steel channels stand at $416/mt in the Shanghai market, at $376/mt in Tangshan and at $479/mt in the Guangzhou market. In the Shanghai, Tangshan and Guangzhou markets, 250 mm x 118 mm x 10 m I-beam prices stand respectively at $413/mt, $377/mt and $468/mt. The prices are all ex-mill, including 17 percent VAT. Steel section prices in the Chinese domestic market can be viewed in the SteelOrbis price reports section.
 
As for billet, prices in the Chinese domestic market have remained stable. In Tangshan, the current price of Q235 150 x 150 mm square billet is at RMB 2,040/mt ($332/mt), the price of 165 x 225 mm rectangular billet stands at RMB 2,070/mt ($337/mt), while the price of 20MnSi billet is at around RMB 2,160/mt ($351/mt). The prices are all ex-mill, including 17 percent VAT.
 
Overall trading activity in the Chinese domestic steel section market has been at low levels in the past week and it is difficult to foresee any improvement in the coming period. Some Chinese steel section producers will carry out overhaul works during May and so some reductions will be seen on the supply side. For the coming week, it is believed that domestic steel section prices will mainly continue their stable trend. 

17 percent VAT is included in all prices and all prices are ex-warehouse.
 
$1 = RMB 6.21